Coherent Ii-Vi Foundation
- Assets
- $8.8m
- Revenue
- $1.5m
- Investments
- $8.1m
- Employees
- 0
- Location
- Carnegie, PA
- Founding
- 07/2007
- Data as of
- 12/2021
- EIN
- 20-8824719
Organization Overview
Coherent Ii-Vi Foundation is located in Carnegie, PA. The organization was established in 2007. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coherent Ii-Vi Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Coherent Ii-Vi Foundation generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (12.1%) each year. All expenses for the organization totaled $2.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Coherent Ii-Vi Foundation has awarded 102 individual grants totaling $2,947,720. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NA
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard W Purnell Executive Director | 40 | $245,600 | |
Carl J Johnson Chairman & Director | 3 | $0 | |
Marc Y E Pelaez Director | 3 | $0 | |
Elgin Eissler Director | 3 | $0 | |
Holly S Mccann Esquire Secretary | 3 | $0 | |
J D Brookhart Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,000,000 |
| Interest on Savings | $127 |
| Dividends & Interest | $74,720 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $433,127 |
| Capital Gain Net Income | $433,127 |
| Net ST Capital Gain | $97,524 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,507,974 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $245,600 |
| Other employee salaries and wages | $19,839 |
| Pension plans, employee benefits | $16,962 |
| Interest | $0 |
| Taxes | $20,151 |
| Depreciation | $252 |
| Occupancy | $14,854 |
| Travel, conferences, and meetings | $8,021 |
| Printing and publications | $0 |
| Other expenses | $135,626 |
| Total operating and administrative expenses | $499,689 |
| Contributions, gifts, grants paid | $1,698,329 |
| Total expenses and disbursements | $2,198,018 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $226,668 |
| Savings and temporary cash investments | $440,740 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $41,622 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,737,501 |
| Net Land, buildings, and equipment | $487 |
| Other assets | $379 |
| Total assets | $8,787,833 |
| Accounts payable and accrued expenses | $780,369 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $780,369 |
Grants Awarded
Over the last fiscal year, Coherent Ii-Vi Foundation has awarded $1,668,328 in support to 53 organizations.
| Grant Recipient | Amount |
|---|---|
CARNEGIE MELLON UNIVERSITY PURPOSE: BLOCK GIFT | $95,000 |
Bozeman, MT PURPOSE: BLOCK GIFT | $95,000 |
THE OHIO STATE UNIVERSITY FOUNDATIO PURPOSE: BLOCK GIFT | $95,000 |
Newark, DE PURPOSE: BLOCK GIFT | $95,000 |
UNIVERSITY OF BUFFALO PURPOSE: BLOCK GIFT | $95,000 |
UNIVERSITY OF ARIZONA PURPOSE: BLOCK GIFT | $95,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Coherent Ii-Vi Foundation has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Pittsburgh Penguins Foundation Pittsburgh, PA PURPOSE: EDUCATION | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |